Financial Fraud | Breaking Cybersecurity News | The Hacker News

A top Interpol chief has expressed concerns about the cybersecurity measures in banks across the region. According to Major Ali Qubaisi, the Interpol team leader for the Middle East and North Africa, and head of the Economic Crimes unit of the Qatari Interior Ministry, banks in the region are "under-protected" against cybercrime. Additionally, legislation is not keeping pace with technological advancements. In an exclusive interview with Emirates 24|7, Major Qubaisi highlighted that the protective measures adopted by Arab banks against cybercrime are insufficient. "Some of these banks are surprised by the number of crimes being committed, but that is due to a lack of protection which should be adopted in this vital sector," he stated. He emphasized that as many as 50% of Arab banks need "electronic patrols." These patrols consist of groups that work online to track and detect any attempts to penetrate a bank's systems. Major Qubaisi explained that mo...

Social networking sites and search engines are expected to face increased cybercriminal activity this holiday season. However, the FBI is also warning consumers about two other significant threats: "smishing" and "vishing" scams. Both smishing and vishing are forms of phishing. Smishing involves using SMS texts to initiate scams, while vishing uses automated phone calls. These scams have been reported since at least 2006. The FBI's Internet Crime Complaint Center (IC3) recently issued an advisory warning that these scams will be prevalent during the holiday season. In these attacks, users receive a text message or automated phone call stating there is a problem with their bank account. They are then given a phone number to call or a website to log onto to provide account credentials to resolve the issue. "While most cyberscams target your computer, smishing and vishing scams target your mobile phone, and they're becoming a growing threat as more American...

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